The labor supply curve for sales clerks is likely to be more elastic than the labor...
The labor supply curve for sales clerks is likely to be more elastic than the labor supply curve for college economics professors.
Select one:
True
False
Homework Answers
True
Labour supply curve of sales clerk is likely to be more elastic because it's a low skilled job and it's fairly easy to replace him, as his job does not require specific skills more people are available at the fairly constant wage. Labour supply curve of the college economics professor is inelastic because his job needs specific skills and require training. Therefore would not respond much to change in wage rate
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The labor supply curve for sales clerks is likely to be more
elastic than the labor...
The market supply curve is: O more elastic in the long run than in the short...
The market supply curve is: O more elastic in the long run than in the short run. O perfectly elastic in the short run, but not the long run. o perfectly inelastic in the long run, but not the short run. less elastic in the long run than in the short run.
The demand for bread is likely to be more elastic than the demand for solid-gold bread...
The demand for bread is likely to be more elastic than the demand for solid-gold bread plates. a. True b. False
Why is the long run market supply curve generally more elastic than the short run supply curve? Can you give some exampl...
Why is the long run market supply curve generally more elastic than the short run supply curve? Can you give some examples with real products of how this might work?
An individual worker's labor supply curve slopes backward if that person responds to a lower opportunity...
An individual worker's labor supply curve slopes backward if that person responds to a lower opportunity cost of leisure by working fewer hours per week. true or false An increase in the number of women willing to work in the labor markets instead of staying at home with children would cause the labor supply curve to shift to the right. true or false Ceteris paribus, a decrease in the wage rate for community college instructors would cause the labor supply...
Would the demand curve for a monopolistic competitor be more or less elastic than the demand...
Would the demand curve for a monopolistic competitor be more or less elastic than the demand curve for a monopolist? Justify your answer. What are the characteristics of a monopolistically competitive market? In what sense is there com- petition and in what sense is there monopoly in this type of market structure? What are three examples of monopolistically competitive markets? True, false or uncertain, and why? "Monopolistic competition is just another form of pure monopoly. True, false or uncertain, and...
If we know the marginal product of labor for every unit of labor, we can derive:...
If we know the marginal product of labor for every unit of labor, we can derive: Select one: a. the demand curve for labor. b. the equilibrium quantity of workers. c. the equilibrium wage. d. the supply curve for labor. Question 17 The productivity of the firm is directly related to the productivity of an individual worker. Select one: True False Question 18 Pro-segregation policies in the American South often came from: Select one: a. humanitarianism. b. foreigners. c. employers....
QUESTION 5 If demand is more elastic and supply is less elastic, then the burden of...
QUESTION 5 If demand is more elastic and supply is less elastic, then the burden of a tax would fall heavily on consumers. o True False
Suppose the price elasticity of supply for a good is 2.0. This means... The supply of this good is elastic. Inputs...
Suppose the price elasticity of supply for a good is 2.0. This means... The supply of this good is elastic. Inputs used to produce this good are probably rare and/or expensive. The supply of this good is inelastic. Inputs used to produce this good are probably rare and/or expensive. The supply of this good is elastic, Inputs used to produce this good are probably cheap and/or plentiful. The supply of this good is inelastic. Inputs used to produce this good...
A person’s labor supply curve is more likely to slope downwards (bend backwards) when Hours worked...
A person’s labor supply curve is more likely to slope downwards (bend backwards) when Hours worked are higher. The wage is higher. Income and leisure are viewed more as compliments. All of the above. None of the above
f the supply is more elastic than the demand, ____________ will bear more subsidy benefit. If...
f the supply is more elastic than the demand, ____________ will bear more subsidy benefit. If the demand is more elastic than the supply, _________ will bear more tax burden. Sellers: Buyers Sellers: Sellers Buyers: Buyers Buyers: Sellers
The market supply curve is: O more elastic in the long run than in the short run. O perfectly elastic in the short run, but not the long run. o perfectly inelastic in the long run, but not the short run. less elastic in the long run than in the short run.
Would the demand curve for a monopolistic competitor be more or less elastic than the demand curve for a monopolist? Justify your answer. What are the characteristics of a monopolistically competitive market? In what sense is there com- petition and in what sense is there monopoly in this type of market structure? What are three examples of monopolistically competitive markets? True, false or uncertain, and why? "Monopolistic competition is just another form of pure monopoly. True, false or uncertain, and...
QUESTION 5 If demand is more elastic and supply is less elastic, then the burden of a tax would fall heavily on consumers. o True False
Suppose the price elasticity of supply for a good is 2.0. This means... The supply of this good is elastic. Inputs used to produce this good are probably rare and/or expensive. The supply of this good is inelastic. Inputs used to produce this good are probably rare and/or expensive. The supply of this good is elastic, Inputs used to produce this good are probably cheap and/or plentiful. The supply of this good is inelastic. Inputs used to produce this good...
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